Justice Mojisola Dada of the Lagos State Special Offences Court has convicted and sentenced American businessman, Marco Antonio Ramirez, to 74 years in prison for defrauding victims of $1.2 million through an EB-5 visa scam and an additional $368,698.24 in fraud.
Justice Dada handed down the sentence after finding Ramirez guilty on two separate consolidated charges filed by the Economic and Financial Crimes Commission (EFCC).
The court ruled that the prosecution had proven its case beyond a reasonable doubt.
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On the first charge, Ramirez was sentenced to eight years for each of counts one to six, and 10 years for each of counts seven and eight.
On the second charge, he received 10 years each on counts one to 12 for obtaining money under false pretenses, and 10 years each on counts 13 to 16 for stealing.
According to EFCC, Ramirez and his companies—USA Now LLC, Eagle Ford Instalodge Group LP, and USA Now Energy Capital Group LP—had obtained the funds from victims by falsely promising access to the Employment-Based Fifth Preference (EB-5) U.S. Investor Programme, which would grant them eligibility for a U.S. Green Card and permanent residency. However, instead of fulfilling these promises, Ramirez converted the funds for his personal use.
In her judgment, Justice Dada stated, “The convict dishonestly converted the money meant for investments to his personal use.
The prosecution has successfully proven that the promises made to the victims were false, and the funds were obtained under fraudulent pretenses.”
The EFCC noted that Ramirez’s fraudulent activities took place in 2013, with one victim, Godson Echegile, losing $545,000, which Ramirez falsely claimed was a processing fee for an investment qualifying him for a U.S. Green Card through the EB-5 programme.
Ramirez was initially arraigned on 12 counts of fraud and pleaded not guilty.
The charges were later amended, and he was re-arraigned on 16 counts on June 24, 2022. His offences were committed between February 5, 2013, and April 18, 2013, in Lagos.
During the trial, EFCC counsel M.S. Owede, along with Samuel Daji, presented documentary evidence and called witnesses to support the allegations.
The defence counsel, Lawal Pedro (SAN), cross-examined the witnesses. After multiple adjournments, the final written addresses were adopted on May 8, 2024, and the judge later delivered the verdict.
In a separate case, Ramirez was found guilty of defrauding another victim, Gabriel Ogie Edeoghon, of $250,000 on July 26, 2013, by falsely claiming the money was for an investment in USA Now Energy Capital Group LP, which would also qualify Edeoghon for a U.S. Green Card through the EB-5 visa programme.
Ramirez received additional sentences of eight years each on counts one to six and 10 years each on counts seven and eight for this particular fraud.
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